South Africa Changes In Inventories

South Africa · Quarterly series · EC-ZA-IC

Latest, Q2 2026

-82.72B ZAR

+49.31B ZAR from Q1 2026

Open interactive chartSouth Africa Changes In Inventories in the app

165.4B-31.9B-229.2BQ3 1996Q2 2027
History through Q2 2026, the forecast path to Q2 2027 (dashed) and its 80% interval (shaded).

Forecast

Forecast for Q2 2027: -10.73B ZAR, with an 80% interval of -223.60B ZAR to 165.38B ZAR.

Forecast path. Intervals are shown where available.
PeriodForecast80% low80% high
Q3 2026-35.56B ZAR-229.18B ZAR154.91B ZAR
Q4 2026-22.74B ZAR-106.35B ZAR52.07B ZAR
Q1 2027-14.94B ZAR-107.11B ZAR62.69B ZAR
Q2 2027-10.73B ZAR-223.60B ZAR165.38B ZAR

Model: Agentic Investor TSFM (foundation model). Forecast generated 2026-11-15.

AI confidence

Supported evidence

The point forecast beat the no-change baseline overall and in a majority of the evaluated tests.

Model: Agentic Investor TSFM (foundation model)

Accuracy vs naive
+31%Beats the no-change baseline over 8 tests (8 tests, 7 won)
Direction
88%Beats a coin flip (28 of 32 calls right in 8 tests)
Turning points
1 of 14Anticipated some turns (14 turns in 8 tests, 0 without a turn)
Error vs baseline
31% lowerError ratio 0.69; 1.00 is a tie.
Tests won
7 / 8Complete rolling backtests; ties count as no win.
Test period
2018-09-01 to 2026-06-014 observations ahead per test.
80% band coverage
84%Observed outcomes inside the band across all stored test windows.
How this assessment is made

AI confidence describes historical evidence for this forecast, not a probability of being correct. Each backtest fits on data available before its test window. The baseline carries the last value forward. Supported evidence requires at least six complete, non-overlapping tests, an error ratio below 0.90 (rounded to two decimals), and wins in a majority of tests. Ratios from 0.90 to below 1.10 are on par; 1.10 or above is weak evidence. Inconsistent wins produce mixed evidence. For a selected model, only the recent tests excluded from model selection determine this label. These are historical simulations using the available data, not a live trading track record; revisions and foundation-model pretraining can limit how closely they reproduce a past decision. Past performance can change.

Replay past tests

Model comparison

Comparison pendingA new ticker first receives its serving model's forecast and evaluation. An eligible nightly batch can compare both candidates, subject to call budgets and retry limits.

Reading

It is above 8% of the 39 earlier readings since Q3 2016.

Written from the figures by a fixed template; no AI model is involved.

Recent history (24 observations)
The 24 most recent observations, newest first.
PeriodValue
Q2 2026-82.72B ZAR
Q1 2026-132.04B ZAR
Q4 2025-6.25B ZAR
Q3 202517.27B ZAR
Q2 202518.71B ZAR
Q1 2025-6.70B ZAR
Q4 2024-24.42B ZAR
Q3 2024-25.12B ZAR
Q2 202419.02B ZAR
Q1 20243.76B ZAR
Q4 202319.42B ZAR
Q3 2023-39.74B ZAR
Q2 202369.52B ZAR
Q1 202330.91B ZAR
Q4 202240.18B ZAR
Q3 202286.94B ZAR
Q2 202235.68B ZAR
Q1 202214.36B ZAR
Q4 2021-20.81B ZAR
Q3 20217.72B ZAR
Q2 2021-38.51B ZAR
Q1 2021-14.27B ZAR
Q4 2020-111.84B ZAR
Q3 2020-144.65B ZAR

Source

Data: public market data feeds.

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Also stored for South Africa